Wells Fargo & Company Issues Positive Forecast for DICK'S Sporting Goods (NYSE:DKS) Stock Price

Key Points

• Wells Fargo & Company has raised its target price for DICK'S Sporting Goods from $187.00 to $215.00, maintaining an "equal weight" rating on the stock.
• Eleven analysts rated the stock as a "hold" while nine have issued "buy" ratings, with an average price target of $223.06.
• DICK'S Sporting Goods reported an earnings per share of $3.37 for the last quarter, meeting analysts' consensus estimates of $3.37 and generating revenue of $3.16 billion.

DICK'S Sporting Goods (NYSE:DKS - Free Report) had its price objective raised by Wells Fargo & Company from $187.00 to $215.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the sporting goods retailer's stock.

Several other research analysts have also weighed in on the company. TD Cowen lowered DICK'S Sporting Goods from a "buy" rating to a "hold" rating and set a $216.00 target price on the stock. in a research report on Thursday, May 15th. Wall Street Zen raised DICK'S Sporting Goods from a "sell" rating to a "hold" rating in a report on Friday, May 9th. UBS Group lowered their price objective on DICK'S Sporting Goods from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Barclays increased their price objective on DICK'S Sporting Goods from $217.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Finally, Truist Financial set a $230.00 price objective on DICK'S Sporting Goods in a report on Wednesday, May 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $223.06.

DICK'S Sporting Goods Price Performance

Shares of DICK'S Sporting Goods stock traded up $1.35 during trading on Thursday, hitting $224.16. The stock had a trading volume of 1,177,868 shares, compared to its average volume of 1,134,681. The business has a fifty day moving average of $202.94 and a two-hundred day moving average of $201.64. The firm has a market cap of $17.94 billion, a P/E ratio of 16.03, a PEG ratio of 3.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.62 and a quick ratio of 0.47. DICK'S Sporting Goods has a fifty-two week low of $166.37 and a fifty-two week high of $254.60.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last announced its earnings results on Wednesday, May 28th. The sporting goods retailer reported $3.37 EPS for the quarter, meeting the consensus estimate of $3.37. DICK'S Sporting Goods had a return on equity of 38.06% and a net margin of 8.49%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.12 billion. On average, sell-side analysts expect that DICK'S Sporting Goods will post 13.89 earnings per share for the current fiscal year.

DICK'S Sporting Goods Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $1.2125 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.85 dividend on an annualized basis and a dividend yield of 2.2%. DICK'S Sporting Goods's dividend payout ratio (DPR) is currently 34.69%.

Insiders Place Their Bets

In other news, EVP Navdeep Gupta sold 13,334 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $225.00, for a total value of $3,000,150.00. Following the completion of the transaction, the executive vice president directly owned 74,444 shares of the company's stock, valued at approximately $16,749,900. This represents a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lauren R. Hobart sold 40,166 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $204.58, for a total value of $8,217,160.28. Following the completion of the transaction, the chief executive officer directly owned 299,990 shares of the company's stock, valued at approximately $61,371,954.20. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,200 shares of company stock worth $14,462,923 in the last 90 days. 32.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DICK'S Sporting Goods

A number of hedge funds have recently modified their holdings of the stock. Guggenheim Capital LLC increased its stake in shares of DICK'S Sporting Goods by 0.4% in the 2nd quarter. Guggenheim Capital LLC now owns 11,829 shares of the sporting goods retailer's stock valued at $2,340,000 after buying an additional 46 shares during the period. Oder Investment Management LLC boosted its position in shares of DICK'S Sporting Goods by 1.0% in the 1st quarter. Oder Investment Management LLC now owns 5,258 shares of the sporting goods retailer's stock worth $1,060,000 after purchasing an additional 51 shares during the last quarter. US Bancorp DE boosted its position in shares of DICK'S Sporting Goods by 1.1% in the 1st quarter. US Bancorp DE now owns 4,740 shares of the sporting goods retailer's stock worth $955,000 after purchasing an additional 53 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of DICK'S Sporting Goods by 5.9% in the 4th quarter. EP Wealth Advisors LLC now owns 1,016 shares of the sporting goods retailer's stock worth $232,000 after purchasing an additional 57 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of DICK'S Sporting Goods by 2.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 2,971 shares of the sporting goods retailer's stock worth $588,000 after purchasing an additional 58 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

About DICK'S Sporting Goods

Dick's Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.